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Morningstar

Invesco Multi-Asset Income Y PIYFX Fund Analysis

Morningstar Analyst Rating
| Analyst rating as of

Morningstar’s Analysis PIYFX

Will PIYFX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

Process Pillar

The Process Pillar is our assessment of how sensible, clearly defined, and repeatable PIYFX’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

The People Pillar is our evaluation of the PIYFX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

Parent Pillar

The Parent Pillar is our rating of PIYFX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Instability in strategy, personnel, and performance has been too high here.

Senior Analyst

Summary

| by Todd Trubey

The team at Invesco Multi-Asset Income has seen its workload grow considerably in the past few years, and most of the underlying sleeves in this fund are with different portfolio managers. The investment process has also evolved substantially over the fund’s lifetime but hasn’t ever found a stable, attractive balance of risk and reward. The Morningstar Analyst Ratings remain Neutral for most share classes but Negative for the expensive C shares.

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